A new modeling and solution approach for the number partitioning problem

The number partitioning problem has proven to be a challenging problem for both exact and heuristic solution methods. In this paper we present a new modeling and solution approach that consists of re-casting the problem as an unconstrained quadratic binary program that can be solved by effcient metaheuristic methods. Our approach readily accommodates both the common two-subset partition case as well as the more general case of multiple subsets. Preliminary computational experience is presented illustrating the attractiveness of the method.